more smoke, page-5

PT
similar story for me, i've been watching and watching for about 2years now too. used to hold a stack, now down to a small holding.

i remember being told that there'd be a roadshow and a drilling campaign during the 2010 AGM. still waiting for that to happen.

i reckon they are stalling and waiting for others in the area to spend their money drilling and trying to leverage some info from others expenditure rather than doing a full campaign in their own right. still sucking out their directors fees etc etc along the way though.

i also reckon that they've burnt the brokers on the last couple of rights issues so god knows how they plan to shake the tin at anything close to 10c (or even at the current price of around 6.3c) the next time they have to raise capital. surely they'll need to get some drilling before now and then because i just dont think they can trot out the "look we're in the right place" line for a 3rd time.

Í think they might have something on their ground, they are just looking for it too freaking slowly. i've decided to either load up again some time after they announce the next CR or wait until they actually get some serious metres in the ground. bottom line their mgt team is so sketchy im prepared to miss any spike up in order to derisk any further capital investment....

glta